ARTICLES ABOUT SAIC BY DATE - PAGE 4

AHMEDABAD: General Motors India on Wednesday said it will launch six new cars in India in the next two years, while also stating that it will invest $100 million (about Rs 450 crore) to increase production capacity at its Halol plant in Gujarat. The company, which plans to launch three light commercial vehicles from the stable of its Chinese partner Shanghai Automotive Industry Corporation (SAIC) during the same time period, also said it has lined up to introduce 14 new variants of its existing car models.

BEIJING: General Motors on Thursday confirmed China's leading automaker SAIC Motor Corp had agreed to buy a stake in the US auto giant, as it prepared for one of the largest stock offerings in history. "We are happy with SAIC's decision to participate in GM's public offering," Tim Lee, president of GM International Operations, said in a statement. "Our ten joint ventures with SAIC include some of China's most successful automotive operations. SAIC's participation in GM's public offering represents another milestone in our partnership.

SHANGHAI: US auto giant General Motors and China's Shanghai Automotive Industry Corp signed a deal on Wednesday that will see them work together on producing new engine and transmission technology. Hu Maoyuan, chairman of SAIC Motor , China's leading automaker by sales, called the deal a milestone that would see two companies share key intellectual property and help SAIC move up the industry's value chain. "This is the first time a Chinese automaker has collaborated with a leading international group to develop a core technology while sharing intellectual property on a global scale," Hu said at a signing ceremony in Shanghai.

NEW DELHI: General Motors India today said it has raised a Rs 1,000 crore loan from a consortium of Indian banks to part-fund a USD 250 million (nearly Rs 1,160 crore) investment for launching five vehicles from the stable of its Chinese partner, SAIC, by 2012. "By the end of 2012 we plan to launch five vehicles from SAIC in India. Three of them will be light commercial vehicles (LCV) and two will be passenger vehicles," General Motors India President and Managing Director Karl Slym told PTI. General Motors India, which was converted into a 50:50 joint venture between General Motors and Shanghai Automotive Industry Corporation (SAIC)

Ed Whitacre, the latest in a succession of General Motors CEOs, has to steer the automobile giant through some tough terrain. The silver lining for the former AT&T chairman & CEO is GM's buoyant performance in the East, with sales in China overtaking that of the US this year. Mr Whitacre discusses the road ahead with ET in an interview. As the new GM CEO, to what extent will you focus on your fastest growing markets ? India and China? We know that to remain a global leader, we have to maintain our commitment to expanding GM's presence and success in critical markets such as India and China.

SHANGHAI: SAIC Motor Corp, China's top automaker, said on Thursday it will raise up to 10 billion yuan ($1.5 billion) through a share placement largely to shore up its own-brand cars and commercial vehicles to help secure its leading position in the world's largest auto market. As wealth grows in the fast-expanding economy, many Chinese carmakers are looking to boost their profile to cater to an increasingly patriotic population who, if given the choice, prefer to buy quality local products.

NEW DELHI | CHENNAI: Chinese automobile and component manufacturers are queuing up to drive into the Indian market, second only to their own in pace of growth, with the intention of using it as a low-cost export base. The Indian automobile industry posted its best performance in May with a 30% growth in car sales on new launches and increased consumer spending. Chinese companies like SAIC, Foton, FAW, Chery, Geely and Great Wall have lined up everything, from mini-vans and cars to heavy-duty trucks and buses for introduction in India.

NEW DELHI/CHENNAI: Chinese automobile and component manufacturers are queuing up to drive into the Indian market, second only to their own in pace of growth, with the intention of using it as a low-cost export base. The Indian automobile industry posted its best-ever performance in May with a 30% growth in car sales on new launches and increased consumer spending. Chinese companies like SAIC, Foton, FAW, Chery, Geely and Great Wall have lined up everything from light minivans to cars, heavy-duty trucks and buses for introduction in India.

NEW DELHI: With both Indian bidders for Ssangyong ? Mahindra & Mahindra and the Kolkata-based Pawan Ruia group ? making it to the shortlist of six bidders, Chinese company SAIC's 10% holding in the ailing Korean auto company could end up being a crucial factor along with its $700 million-debt and worker's activism in South Korea. However, the bidders differ sharply in their perception of the SAIC issue. For M&M a significant Chinese minority shareholder will be a factor only if management control isn't clear cut. "If M&M bids and if it succeeds, it will need to see what kind of management control it will have at Ssangyong.

GURGAON: General Motors India said on Thursday that it will launch commercial vehicles and passenger cars from the stable of its Chinese partner Shanghai Automotive Industry Corporation (SAIC) by the end of next year. General Motors India, which was converted into a 50:50 joint venture between General Motors and SAIC last year, will be making a significant investment in terms of 'millions of dollars' at its Halol plant in Gujarat to manufacture light commercial vehicles (LCVs)